ALGIERS – October 27, 2025: Algeria has unveiled a USD 1 billion Innovation Fund aimed at financing and empowering African startups, marking one of the continent’s largest public initiatives to drive innovation, digital transformation, and regional integration. The announcement was made by Kamel Rezig, Minister of Foreign Trade and Export Promotion, during the African Ministerial Meeting held alongside the 16th UNCTAD Conference in Geneva.
Rezig said the fund—part of the African Startup and Young Innovators Financing Fund launched by President Abdelmadjid Tebboune—will back projects with strong social and economic impact, focusing on technology, education, healthcare, and humanitarian services. He emphasized that the initiative aims not only to finance entrepreneurs but also to empower youth, foster intra-African collaboration, and build an innovation-driven Africa.
Aligned with Algeria’s broader regional vision, the initiative complements major infrastructure projects such as the Trans-Saharan Highway, the Trans-Saharan Gas Pipeline, and a high-speed fiber-optic network connecting North and Sub-Saharan Africa—all designed to boost trade, energy connectivity, and digital access.
Rezig also reaffirmed Algeria’s support for the African Continental Free Trade Area (AfCFTA), calling for greater financial transparency and the establishment of an independent African credit-rating agency.
The new fund arrives amid a slowdown in African startup funding, which fell from USD 3.63 billion in 2022 to USD 1.98 billion in 2023. Algeria’s move aims to counter this trend by mobilizing regional capital to sustain growth, build capacity, and reduce dependence on foreign investment cycles.
Domestically, Algeria has made strong strides in fostering innovation, with 1,600 microenterprises, 130 startups, 1,175 innovative projects, and 2,800 registered patents by mid-2025. The country’s goal is to reach 20,000 startups by 2029, supported by national accelerators like Algeria Venture and the National Startup Fund.
The USD 1 billion continental initiative will extend these resources beyond Algeria’s borders, targeting high-growth sectors such as fintech, agritech, renewable energy, and digital health. Officials say the fund will serve as a catalyst for job creation, entrepreneurship, and sustainable growth, helping position Africa as a global player in innovation and technology.
